Loading…
The U.S. dollar was little changed to slightly higher against major currencies on April 21 as business activity data suggested the U.S. economy remained resilient. The data supported expectations of another 25-basis-point Federal Reserve rate hike at the May meeting.
The dollar index was on track for its first weekly gain in nearly two months.
A firmer dollar and higher U.S. rate expectations tend to weigh on dollar-denominated commodity prices and strengthen the dollar against emerging-market currencies that buy feed ingredients.
reuters.comGertrude Chavez-DreyfussApr 21, 2023After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
